Citigroup's better-than-expected results cap a disappointing quarter for the bank, as it failed to win regulatory approval to pay a higher dividend and return $6.4 billion of capital to shareholders through stock buybacks

Goldman Sachs Group Inc. and Citigroup Inc. staked out sharply divergent views from the Federal Reserve over how well they would perform in a market shock, as the central bank gauges the strength of U.S. lenders. Such discrepancies can lead the Fed to reject plans to pay out capital to shareholders

The 2014 Wholesale & Investment banking Outlook by Morgan Stanley and Oliver Wyman said investment banks needed to cut their balance sheets by about 8 percent, even after cutting them by a fifth in the last four years